Last night, City Council members deliberated on the proposal of a 4,500 residential development in the Bees Ferry area of West Ashley. According to William Joy of WCSC, The Long Savannah Project was approved and will cover 3,000 acres, 1,200 of which will be used for homes and 400,000 square feet will be used for retail and office space.

The approval of this major residential project is great news for the people who live in West Ashley, myself being one of them. The community is really hoping this area is going to be revamped and this project should show everyone that West Ashley is on track to developing for people that are moving to the area.

Traffic studies done on this project show that the entire area will be gridlocked, along Bees Ferry and Glenn McConnell (didn’t the Bees Ferry construction just end?!), but this should be a small price to pay for the major development.The project was originally approved in 2007, but was foreclosed on. We should expect to see around 500 homes in the next two years and the entire project to be complete in the next 20.

WOW! What a month! 13 properties sold during May 2010 on Folly Beach bringing the total year to date to 40. This pace is what we are used to on Folly. Have we reached a bottom? I would hesitate to call a bottom, but maybe call it a stabilization. Increased number of sales is what we need in order for demand to push prices upward. So far prices remain low, which is leading many to purchase property. The average sales price in May was $458,000.

The sales in May included an oceanfront 1 bedroom studio for $250,000, a 2nd row cottage on a half lot for $363,000, and a Sunset Pointe home with a pool for $548,000. There were also 2 Charleston Oceanfront Villas sold in the $600’s.

There are still many great opportunities on Folly Beach, but when one presents itself, it usually is gobbled up. As a buyer, you must really be in position to pounce as soon as the deal is listed. Getting yourself prepared takes a little time so get started looking now, so when the deal comes around you will be ready.